The medical application of nanotechnology has a significant impact on the economy. In 2004, nanomedicine sales reach 6.8 billion dollars, with over 200 companies and 38 products worldwide. A minimum of 3.8 billion dollars in nanotechnology research and development is being invested every year. The introduction of nanoparticles for the treatment and detection of major human diseases is expected to result in the explosion of the market for this class of biomaterials. The value of a platform by which nanoparticles may be developed and optimized for targeting applications is substantial and may facilitate the introduction of novel therapeutic and diagnostic modalities for treatment of a myriad of diseases including various forms of solid tumors and viral infections.
One application of nanoparticles is drug delivery. There is a need for new particle formulations that can be used to encapsulate drugs.